Criminals in high places and high finance
HSBC was slammed with more than a billion in fines for money laundering. UBS too was fined as much for rigging Libor. And several other big banks too were caught for equally serious criminal acts. The American and European authorities are currently investigating several banks for similar financial crimes.
What is nauseating is that no individual was found guilty of any crimes. The criminals were the inanimate banks and institutions. And the fines paid were from the shareholders. The shareholders are paying the fines of these criminals in high places. Where is justice? People in high places can commit crimes and be freed from punishment? How then would they stop doing what they were doing when they know that they are untouchables?
The US is now looking into bringing a few of these criminals to court and make them pay for the crimes personally. Until this is done, until these criminals in high places are put behind bars, the banking and finance industry will be dominated and in the control of such criminals and getting paid obscenely, unchecked by anyone.
The banking and finance industry has been in the hands of rogues and robbers for too long. When would the long arms of the law reach them and put an end to their crimes?